He also said that he thinks other marijuana retailers are spending "too much" on licenses and that Green Growth is "trying to be smarter than what we see out there."

Horvath listed off eight transactions Green Growth Brands has made in recent months as examples, including partnerships with DSW and the Simon Property Group to sell its Seventh Sense brand of CBD skincare products in malls around the US.

"That's 0 calories," said Horvath. "I don't know what that has to do with their business — it's not going to create new customers."

A spokesperson for MedMen couldn't be reached after several attempts for comment.

Rather, Horvath said in his view the best way to create and retain customers is through word-of-mouth. If someone has a great experience in-store or with a product, they're more likely to tell their friends, family, or co-workers about it.